Thursday

Iran: "Secret" Sales and Sepah Freeze

In September of 2006 the US Treasury took steps to end the role of Iran's Bank Saderat from funding terrorism; and cut the bank off from the U.S. financial system altogether... -The secret sales of weaponry to terror groups found in Iraq, and illegal sales of weaponry showing up in the hands of multiple militant groups...View A -U.S. Treasury Department release, Jan. 9

(Excerpt below)

-International Banks have made their own assertion:

"The Government of Iran is facilitating its proliferation and terrorism activities through the world's financial system, using its state-owned banks and an array of front companies and other deceptive techniques specifically designed to evade the controls of responsible financial institutions."

U.S. Treasury Undersecretary Stuart Levey designated Iran’s fifth-largest bank, the Bank Sepah, as “a supporter of WMD proliferation.” Under an executive order issued in 2005 by President George W. Bush, the finding requires all U.S.-held Bank Sepah assets to be frozen and bans all U.S. individuals and companies from conducting business with Bank Sepah...

The bank “provides direct and extensive financial services to Iranian entities responsible for developing missiles capable of carrying weapons of mass destruction,” Levey said in a statement. Furthermore, “Bank Sepah has engaged in a range of deceptive practices in an effort to avoid detection, including requesting that other financial institutions take its name off of transactions when processing them in the international financial system”

Financial Institutions have done so of their own accord, many concluding that they did not wish to be the banker for a regime that funds terrorism, defies the UN Security Council in pursuing a nuclear program, and deliberately conceals the nature of its business...Read more.

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"Democracy and socialism have nothing in common but one word, equality. But notice the difference: while democracy seeks equality in liberty, socialism seeks equality in restraint and servitude."